David Cramer on tenant behavior
From National Storage Affiliates CEO Says Consumer Base Metrics “Very Healthy” · · Nareit1
“Our current tenant behavior has been very durable. We have not seen any change in their length of stay patterns or their ability to pay bills. All the metrics we study are very very healthy from our consumer base which is encouraging given the economic uncertainty that's going on right now.”
On , David Cramer, President, Chief Executive Officer & Trustee at NATIONAL STORAGE AFFILIATES, spoke about tenant behavior during National Storage Affiliates CEO Says Consumer Base Metrics “Very Healthy” on Nareit1.
About David Cramer
David Cramer, president and CEO of National Storage Affiliates Trust, said in July 2025 that the company's consumer base metrics are "very healthy," noting that tenant behavior has been durable with no changes in length of stay or ability to pay bills. He stated that the self-storage sector has historically shown resilience during economic uncertainty and that the company has found "good solid footing for rate," with encouraging signs of upward trends, though slower than desired. Cramer also said that transition in the housing market is important for the business and that the appetite for the product remains "very vigorous," with steady investor interest. In an April 2025 interview, Cramer discussed the company's growth since its IPO 10 years ago, from approximately 250 properties to nearly 1,000, with a total enterprise value of about $9 billion. He noted that the company internalized its Pro structure in 2024, consolidating from 12 brands to 7 under a single domain name to improve digital visibility and operational efficiencies. Cramer said that new supply in the sector is declining and expected to remain below historical averages, which he described as positive for the industry, and that the housing market is "bouncing around its bottom," with a recovery expected to drive additional demand for self-storage.